EnCana Completes $500MM Debt Offering
EnCana Corporation has completed a public offering in the United States of US $500 million notes with a coupon rate of 6.50% due May 15, 2019. The net proceeds of the offering will be used to repay a portion of EnCana's existing bank and commercial paper indebtedness.
These debt securities have been assigned a rating of A- by Standard & Poor's Ratings Services, Baa2 by Moody's Investors Service and A (low) by DBRS Limited.
The offering was made in the United States under EnCana's previously filed shelf prospectus dated March 11, 2008 and a prospectus supplement dated April 29, 2009. Banc of America Securities LLC and Deutsche Bank Securities acted as joint book-running managers for the offering.
- Encana Calls End to Permian Race as Focus Turns to Output (Oct 18)
- Canada's Encana Smashes Profit Estimates, Shares Rise (Jul 21)
- Encana To Sell Natgas Assets To Caerus Oil For $735MM (Jun 09)